Romgaz took out a 325 million euro credit from Raiffeisen Bank to partially finance the acquisition of ExxonMobil Romania, according to a release of the company, sent, on Wednesday, to the Bucharest Stock Exchange.Romgaz will use the loan to partially finance the acquisition price that will be paid for all the shares issued by ExxonMobil Exploration and Production Romania Limited (EMEPRL), which owns 50% of the rights and obligations regarding the Neptun Deep perimeter.The loan facility worth 325 million euro has a deadline of five years and is correlated with the general financial performance of Romgaz. The facility, in which Raiffeisen Bank acts as creditor, offers Romgaz the financing for its resource development plan, covering part of the acquisition price of all shares issued by EMEPRL."The signing of this financing contract is necessary to realize an important step assumed in the Romgaz strategy for development for the 2021-2030 period, namely the finalization of the acquisition of the EMEPRL shares, owner of 50% of the rights and obligations regarding the Neptun Deep perimeter. It is a first step that proves our determination to maintain Romgaz as the most important player in the gas market in Romania and will position us strategically in the current geopolitical context. The development and exploitation, as soon as possible, of the deposits with commercial potential in the Neptun Deep perimeter will ensure the adding of considerable volumes to the production of natural gas of Romania which will support, without a doubt, security in the natural gas supply of the country," said the general director of Romgaz, Aristotel Jude.The closing of the financing contract was facilitated by the legal support of law firms Dentons, representing Romgaz, and Wolf Theiss, acting for creditor Raiffeisen Bank.Presently, ExxonMobil and OMV Petrom are equal partners in the deep sea project Neptun Deep, where exploration has revealed gas deposits estimated at 42-84 billion cubic meters.
This article series tells the stories of the 15 finalists selected in the BVB Arena program. BVB Arena is the flagship program of the Bucharest Stock Exchange, dedicated to developing and promoting the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest growth potential and high chances […]
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
